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Mansion Tax

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By (user no longer on site) OP   
over a year ago

Looks like this is still on the political agenda. Good or bad??

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

I have mixed feelings about this one. It doesn't match up to what the market rates are in some of the country.

With the newly annuity free pensioners who will be buying property as buy to let to use as their pension lots of places could end up falling into the mansion tax bracket.

Since the London bubble has spread to my part of London a simple 2 bed terraced house could end up falling under the bracket for the mansion tax.

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By (user no longer on site) OP   
over a year ago

Hard to see how it works and feels very much like low brow envy politics

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By *its_n_piecesCouple
over a year ago

good thing

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By (user no longer on site) OP   
over a year ago


"good thing"

Why? People have bought property out of taxed income only to then see that asset taxed again. Seems a slippery slope to me.

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By *its_n_piecesCouple
over a year ago

it marginally offsets the 150% increase in value over a decade

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By (user no longer on site) OP   
over a year ago


"it marginally offsets the 150% increase in value over a decade

"

Which is an unrealised gain until and if you sell so should be non taxable. Otherwise start taxing the unrealised gains you might have on shares, or some art, or any other asset you might own that may or may not have gone up in value. Do you propose a rebate if property values decline?

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By *its_n_piecesCouple
over a year ago

i don't propose anything .... a question was asked, i answered, you don't like that i think it's a good thing and that's where it ends really

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By (user no longer on site) OP   
over a year ago


"i don't propose anything .... a question was asked, i answered, you don't like that i think it's a good thing and that's where it ends really"

I think your reasons for liking it are flawed, doesn't necessarily mean I don't like your _iew.

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By *its_n_piecesCouple
over a year ago

do you like my _iew on this topic?

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By (user no longer on site)
over a year ago

Won't really affect me. Bit selfish I know, but most of the other changes will so i'll worry about them.

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By *ScotsmanMan
over a year ago

ayrshire

I the idea

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By (user no longer on site) OP   
over a year ago


"do you like my _iew on this topic?"

No, I think it is a tax which sets a dangerous precedent, is very focused on the south where property is more highly valued, will be almost impossible to regulate, will impact the market value of houses and which sends a message to those who succeed and want to better themselves that they will be penalised.

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By *its_n_piecesCouple
over a year ago


"do you like my _iew on this topic?

No"

QED .... end transmission

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By (user no longer on site) OP   
over a year ago


"do you like my _iew on this topic?

No

QED .... end transmission"

Fair enough - I doubt whatever reasoned arguments I might present you wouldn't listen to them.

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??"

I would say so if you can afford property of such a high value then is only fair to contribute a little more towards those who can't. The money though should specifically go to aid the homeless it seems good Karma to me.

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By *ot pussy and big cockCouple
over a year ago

Nr Newtown

If the government could find a way to tax us breathing, they would. Greedy robbing bunch. Rich.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"Looks like this is still on the political agenda. Good or bad??

I would say so if you can afford property of such a high value then is only fair to contribute a little more towards those who can't. The money though should specifically go to aid the homeless it seems good Karma to me. "

I bought my flat for £39k, which was a stretch when I was buying. The property prices around me have shot up in the last year. The flat has a newish roof (well, 9 years old) but it hasn't changed. I couldn't afford to buy it now. Many people may be asset rich, for similar reasons, and have no real or realisable money without leaving their homes.

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??

I would say so if you can afford property of such a high value then is only fair to contribute a little more towards those who can't. The money though should specifically go to aid the homeless it seems good Karma to me.

I bought my flat for £39k, which was a stretch when I was buying. The property prices around me have shot up in the last year. The flat has a newish roof (well, 9 years old) but it hasn't changed. I couldn't afford to buy it now. Many people may be asset rich, for similar reasons, and have no real or realisable money without leaving their homes.

"

So are you saying your flat is worth more than £2 million?

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"Looks like this is still on the political agenda. Good or bad??

I would say so if you can afford property of such a high value then is only fair to contribute a little more towards those who can't. The money though should specifically go to aid the homeless it seems good Karma to me.

I bought my flat for £39k, which was a stretch when I was buying. The property prices around me have shot up in the last year. The flat has a newish roof (well, 9 years old) but it hasn't changed. I couldn't afford to buy it now. Many people may be asset rich, for similar reasons, and have no real or realisable money without leaving their homes.

So are you saying your flat is worth more than £2 million?"

No but I can think of some properties not that far from me that are but they are not that extraordinary, just in London where the market is dictated by Russian oligarchs and Chinese investors.

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By *its_n_piecesCouple
over a year ago

then maybe a mansion tax would cream some of the wealth off the non-domicile russians and chinese that you seem to object to who would otherwise contribute non of their personal wealth to the local facilities that they enjoy the use of while staying there

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"then maybe a mansion tax would cream some of the wealth off the non-domicile russians and chinese that you seem to object to who would otherwise contribute non of their personal wealth to the local facilities that they enjoy the use of while staying there"

You forget about the pensioners buying up using their new freedoms from an annuity.

I think you are missing my point. As I said in my first post on this - I have mixed feelings about this.

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By *nnyMan
over a year ago

Glasgow


"If the government could find a way to tax us breathing, they would. Greedy robbing bunch. Rich. "

If there was a tax on breathing, the rich would employ people on minimum wage to breathe for them.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"If the government could find a way to tax us breathing, they would. Greedy robbing bunch. Rich.

If there was a tax on breathing, the rich would employ people on minimum wage to breathe for them."

I hyperventilate so I could be employed by two of them.

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By *its_n_piecesCouple
over a year ago

i'm not sure i understand the point you are trying to make about pensioners and their annuities/investments. do you think this would unfair to them or they would benefit. could you clarify?

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By *ot pussy and big cockCouple
over a year ago

Nr Newtown


"i'm not sure i understand the point you are trying to make about pensioners and their annuities/investments. do you think this would unfair to them or they would benefit. could you clarify?"

The people who'll benefit the most from the freedom from annuities changes are the Lamborghini salesmen...lol

Rich

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By *nnyMan
over a year ago

Glasgow


"i'm not sure i understand the point you are trying to make about pensioners and their annuities/investments. do you think this would unfair to them or they would benefit. could you clarify?

The people who'll benefit the most from the freedom from annuities changes are the Lamborghini salesmen...lol

Rich "

There will be precious few 'ordinary' pensioners with a pension pot large enough to insure a Lamborghini, far less buy one.

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By *alldarkhandsomedaveMan
over a year ago

Derby

Stop taxing the people who have worked hard for their money, concentrated at school and probably got bullied for it.

Kick the scum who are claiming money they aren't due, yet bleat about getting it reduced

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By (user no longer on site)
over a year ago

It's not just a media tax, it will also force those not rich enough to mix with the neighbourhood to sell up and leave the area. Can only presume some policy writer thinks hit or her neighbours are too low class to live in their street.

You pay stamp duty on purchase and banded council tax, plus probably high income tax to afford a 2 mil. House so why pay more?

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By *its_n_piecesCouple
over a year ago

stamp duty should be paid by the vendor not the purchaser and if the nonsensical council tax banding was updated to reflect the way the market has shifted over the last 20 years there would be no need to consider a mansion tax

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By *ee VianteWoman
over a year ago

Somewhere in North Norfolk


"Stop taxing the people who have worked hard for their money, concentrated at school and probably got bullied for it.

Kick the scum who are claiming money they aren't due, yet bleat about getting it reduced "

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By *ctaviusStuntMan
over a year ago

plymouth

pay the right ammount of tax or fuck off

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By (user no longer on site)
over a year ago


"stamp duty should be paid by the vendor not the purchaser "

Does it matter? The government gets paid a proportion of the house value at each point the home becomes a cash value.

The government takes over half of everyone's money already in various taxes, don't let the fact that this appears to hit the better off blind you into thinking its a good tax to add to the list.

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By *or Fox SakeCouple
over a year ago

Thornaby


"stamp duty should be paid by the vendor not the purchaser and if the nonsensical council tax banding was updated to reflect the way the market has shifted over the last 20 years there would be no need to consider a mansion tax"

we tried to change the local government taxation system before. The poll tax was the result.

I agree there has to be root and branch reform of both loca,l and national, taxation but there are too many vested interests and a few loons who are happy to riot to allow this to happen.

As an idea if a government wants to raise more tax income the best thing it can do is introduce a flat tax rate that is low.

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By *its_n_piecesCouple
over a year ago

all of this is completely hypothetical. most of what's being discussed will never happen and thus the kaput-alists will be able to sleep soundly .... i don't really care what happens or who does what, the way i live my life i'm pretty impervious change. but i do dislike all the whinging that goes on in the current war of jealousy during this time of austerity that has been imposed upon us. it's dividing our culture.

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By (user no longer on site) OP   
over a year ago


"all of this is completely hypothetical. most of what's being discussed will never happen and thus the kaput-alists will be able to sleep soundly .... i don't really care what happens or who does what, the way i live my life i'm pretty impervious change. but i do dislike all the whinging that goes on in the current war of jealousy during this time of austerity that has been imposed upon us. it's dividing our culture."

I agree, austerity is divisive. When I read how the likes of Google/Amazon/Ebay are avoiding billions of tax a year while hard working people are being squeezed more and more at both ends of the scale it does make me cross.

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By (user no longer on site)
over a year ago


"do you like my _iew on this topic?

No, I think it is a tax which sets a dangerous precedent, is very focused on the south where property is more highly valued, will be almost impossible to regulate, will impact the market value of houses and which sends a message to those who succeed and want to better themselves that they will be penalised."

on the hand it is a government tool to control the property prices in the south and London where the recession is well and truly over. The only other tool is to raise interest/libor rates. This would put the rest of the country under immense pressure and in many cases unable to meet mortgage payments. It is easy to borrow money on property in London - try doing it in the North West, Scotland or Northern ireland. Or do we not count?

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By (user no longer on site)
over a year ago


"It is easy to borrow money on property in London - try doing it in the North West, Scotland or Northern ireland. Or do we not count?"

I think you are misinformed on that, we have a number of friends who having lost their job due to redundancies in the West Country have accepted jobs in London paying around £40 - £50k which would be very comfortable in Scotland or Northern Ireland, Even Bristol but have absolutely no chance of affording a mortgage in London unless they pretty much double the salary, most are living in shared houses renting a room at £900 - £1000 a month and still far enough out to have an hour + commute to work (in one case 3 hours)

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By (user no longer on site)
over a year ago

the problem is, many people are property rich/cash poor, and the mansion tax just doesnt sit right with me at all.

a couple that bought a large property just after the war, in the right area, could be sitting on a huge amount of money, but not have a pot to piss in.

this is not good.

now, if its on a portfolio of properties, i would have little problem with that, but for homes, in which you live? no, it just doesnt feel right to tax people who want to live in a nice area/home/place they have lived all their lives

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By (user no longer on site)
over a year ago


"I agree, austerity is divisive. When I read how the likes of Google/Amazon/Ebay are avoiding billions of tax a year while hard working people are being squeezed more and more at both ends of the scale it does make me cross. "

Of course the Government could learn and go into competition with Luxembourg, after all if you have 2 shops on your high street selling the same product at vastly different prices which would you use?

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By *its_n_piecesCouple
over a year ago


"I agree, austerity is divisive. When I read how the likes of Google/Amazon/Ebay are avoiding billions of tax a year while hard working people are being squeezed more and more at both ends of the scale it does make me cross"

you may have unwittingly proved my point by saying this.

this is the politics of jealousy in action. envy that you believe companies haven't paid their fair share into the pot. the less well of are envious of the more wealthy because they believe that they haven't been rinsed to the same degree as themselves. the wealthier kaput-alists are of the opinion that the less well off are in this position because they are feckless and not putting enough effort into making money for them. the world and his brother are kicking the outright poor and destitute because they believe other peoples hard work is paying for them to have a free ride in life. who knows if any of this is actually true. we only have career journalists and hacks words for any of it and they are only interested in trolling everybody in the country into a frenzy to make a few bucks. the politics of envy and jealousy is leading to destruction. maybe it's best not to have an opinion and for one to just get on with whatever it is one does. there are just too many unhappy people these days and it's not a good look.

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By *nnyMan
over a year ago

Glasgow


"It is easy to borrow money on property in London - try doing it in the North West, Scotland or Northern ireland. Or do we not count?

I think you are misinformed on that, we have a number of friends who having lost their job due to redundancies in the West Country have accepted jobs in London paying around £40 - £50k which would be very comfortable in Scotland or Northern Ireland, Even Bristol but have absolutely no chance of affording a mortgage in London unless they pretty much double the salary, most are living in shared houses renting a room at £900 - £1000 a month and still far enough out to have an hour + commute to work (in one case 3 hours) "

The challenge, at least in Scotland, is that there are still unreasonable expectations of sale price among vendors.

Lenders are understandably reluctant to lend high %ages in such circumstances. That's where the various 'help to buy' schemes have been useful, although the word on the street is that it's too little.

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By (user no longer on site)
over a year ago

I'm not sure how this works. 2million has been mentioned a few times. Is it for houses that are worth that or more then?

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By *illwill69uMan
over a year ago

moston

Its a drop in the ocean when you look at all the tax breaks that have been given to the super rich over the last 3 decades.

I would rather see a fairer and more progressive tax system.

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By *nnyMan
over a year ago

Glasgow


"Its a drop in the ocean when you look at all the tax breaks that have been given to the super rich over the last 3 decades.

I would rather see a fairer and more progressive tax system. "

Agreed but its a lot easier to hide other assets/ income than it is to hide houses.

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??"

its just a headline grabber and populist posturing.

If the political leadership of the parliament were serious about this then all they have to do is increase the stamp duty on high value properties.

no need for new legislation, use whats already there.

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By *nnyMan
over a year ago

Glasgow


"Looks like this is still on the political agenda. Good or bad??

its just a headline grabber and populist posturing.

If the political leadership of the parliament were serious about this then all they have to do is increase the stamp duty on high value properties.

no need for new legislation, use whats already there."

That again would simply lead to more covert and 'sophisticated' transactions.

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By (user no longer on site)
over a year ago


"Agreed but its a lot easier to hide other assets/ income than it is to hide houses."

Houses can be owned by offshore corporations too, 1 house hidden

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??

its just a headline grabber and populist posturing.

If the political leadership of the parliament were serious about this then all they have to do is increase the stamp duty on high value properties.

no need for new legislation, use whats already there.

That again would simply lead to more covert and 'sophisticated' transactions."

Can you explain how you come to the conclusion that it will lead to "more" of this ?

Surely it simply needs the oxbridge educated public schoolboys on both sides of the house to put all that education to work and close the loopholes that allow such behaviour.

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By *nnyMan
over a year ago

Glasgow


"Looks like this is still on the political agenda. Good or bad??

its just a headline grabber and populist posturing.

If the political leadership of the parliament were serious about this then all they have to do is increase the stamp duty on high value properties.

no need for new legislation, use whats already there.

That again would simply lead to more covert and 'sophisticated' transactions.

Can you explain how you come to the conclusion that it will lead to "more" of this ?

Surely it simply needs the oxbridge educated public schoolboys on both sides of the house to put all that education to work and close the loopholes that allow such behaviour.

"

As the rewards for fiddling the system increase, the amount of fiddling will increase.

Were it as simple as 'both sides agreeing to work together', we'd have no tax avoidance schemes and much less need for as soon tax.

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??

its just a headline grabber and populist posturing.

If the political leadership of the parliament were serious about this then all they have to do is increase the stamp duty on high value properties.

no need for new legislation, use whats already there.

That again would simply lead to more covert and 'sophisticated' transactions.

Can you explain how you come to the conclusion that it will lead to "more" of this ?

Surely it simply needs the oxbridge educated public schoolboys on both sides of the house to put all that education to work and close the loopholes that allow such behaviour.

As the rewards for fiddling the system increase, the amount of fiddling will increase.

Were it as simple as 'both sides agreeing to work together', we'd have no tax avoidance schemes and much less need for as soon tax."

So is the answer to my question, that your conclusion is an assumption of more, rather than the result of research.

on your second point about working together, are we not electing them in order to work in our best interests ? On this basis if they dont work together surely they are failing the public and all need to go

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By *nnyMan
over a year ago

Glasgow

Do you have research on the long term effects of a mansion tax in the UK?

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By (user no longer on site)
over a year ago


"Do you have research on the long term effects of a mansion tax in the UK?"

easy tiger

i only asked you a question in order to find out if you had knowledge of the subject, given your assertion about "more covert and sophisticated transactions"

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By *nnyMan
over a year ago

Glasgow


"Do you have research on the long term effects of a mansion tax in the UK?

easy tiger

i only asked you a question in order to find out if you had knowledge of the subject, given your assertion about "more covert and sophisticated transactions"

"

If you don't have the research, just say so.

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By *bony in IvoryCouple
over a year ago

Black&White Utopia

Oh Damn Blast! One will have to fire the gardener and cut the Lawn myself!

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By (user no longer on site) OP   
over a year ago


"Oh Damn Blast! One will have to fire the gardener and cut the Lawn myself! "

Maybe the Butler can take on some extra duties! I do find the term "mansion" to be somewhat misleading in all of this. Just because a property maybe valuable, most likely based on its location, does not mean it is a mansion. Yet another example of polticians looking for populist policies rather than doing the right things.

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By (user no longer on site)
over a year ago


"Do you have research on the long term effects of a mansion tax in the UK?

easy tiger

i only asked you a question in order to find out if you had knowledge of the subject, given your assertion about "more covert and sophisticated transactions"

If you don't have the research, just say so."

_nny, i havent made any assertions that would require me to have carried out research, that was you when you said that the use of existing legislation would lead to "more covert and sophisticated transactions" you were simply asked to explain how you came to that conclusion.

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By *john121Man
over a year ago

staffs

could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory! "

dont go giving the political classes more ideas

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By (user no longer on site) OP   
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory! "

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain."

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

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By (user no longer on site) OP   
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required."

Your principal residence is CGT exempt.

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt."

yea, thats why i said an amendment to existing legislation.

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation."

doubt it will matter to you anyway, cuz once you vote for independence you will all be on the street anyway lol

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation.

doubt it will matter to you anyway, cuz once you vote for independence you will all be on the street anyway lol"

cheers, your assumption about how i or the rest of Scotland will vote and your assumption about the effect that independence would have remind me why i never liked Telford.

ass-u-me

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By (user no longer on site) OP   
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation."

It would require quite a bit of thought in terms of the level at which any tax would kick in and the rate at which any CGT should be levied rather than a small amendment. Would probably help control some of the excess in the housing market while raising extra cash for the treasury in a structured and fair way rather than some arbitary tax which is neither fair or objective.

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation.

It would require quite a bit of thought in terms of the level at which any tax would kick in and the rate at which any CGT should be levied rather than a small amendment. Would probably help control some of the excess in the housing market while raising extra cash for the treasury in a structured and fair way rather than some arbitary tax which is neither fair or objective."

all true but seems to me that if you have an existing system of taxation that can fulfil that why would you design an additional tax to add to an already over complicated system

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??"

Bad really bad bro!

I wish I never bought a goddamn mansion now!

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation.

doubt it will matter to you anyway, cuz once you vote for independence you will all be on the street anyway lol

cheers, your assumption about how i or the rest of Scotland will vote and your assumption about the effect that independence would have remind me why i never liked Telford.

ass-u-me "

aw bless, taking yer freedom (as mel gibson said it) they must have taken yer humour too.

ah well, nevermind.

cut adrift on memory bliss

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By (user no longer on site)
over a year ago


"could always reintroduce this:

The window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France and Scotland during the 18th and 19th centuries. To avoid the tax some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date), as a result of the tax. It was introduced in 1696 and was repealed in 1851, 156 years after first being introduced. Spain and France both had window taxes as well for similar reasons.

Help you get rid of that annoying neighbors conservatory!

I would simply introduce a sales levy on property above a certain level to be paid by the seller as a % of the gain made in addition to stamp duty, easy to introduce, easy to manage, easy to understand and only comes into effect when someone has made a gain.

Im sure thats already covered by capital gains tax (with conditions), so again just an amendment to existing legislation required.

Your principal residence is CGT exempt.

yea, thats why i said an amendment to existing legislation.

doubt it will matter to you anyway, cuz once you vote for independence you will all be on the street anyway lol

cheers, your assumption about how i or the rest of Scotland will vote and your assumption about the effect that independence would have remind me why i never liked Telford.

ass-u-me

aw bless, taking yer freedom (as mel gibson said it) they must have taken yer humour too.

ah well, nevermind.

cut adrift on memory bliss"

contrary to what the media would have you believe many of are able to see through the ramblings of a blue faced antipodean midget.

as far as humour goes, your post was as about as funny as day trip dave thinking we would be fooled by the cabinet meeting in Scotland for the 3rd time in 300+ years.

but this isnt an independence thread, lets leave it to its purpose.

big hugs

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By (user no longer on site) OP   
over a year ago

So labour has jumped onto the bandwagon and raised this again, without giving any indication of how it would work or at what rate they would tax. Can't help feeling this together with a stronger SNP will see Labour wiped out in large swathes of the country.

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By *ouple in LancashireCouple
over a year ago

in Lancashire


"So labour has jumped onto the bandwagon and raised this again, without giving any indication of how it would work or at what rate they would tax. Can't help feeling this together with a stronger SNP will see Labour wiped out in large swathes of the country."

don't forget a stronger ukip will also have a similar effect on the tories..

more interesting times..

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By (user no longer on site) OP   
over a year ago


"So labour has jumped onto the bandwagon and raised this again, without giving any indication of how it would work or at what rate they would tax. Can't help feeling this together with a stronger SNP will see Labour wiped out in large swathes of the country.

don't forget a stronger ukip will also have a similar effect on the tories..

more interesting times.."

I think UKIP will take votes from across the political spectrum. Interesting times indeed!

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By (user no longer on site)
over a year ago

Mansion tax is an envy tax based solely on where people live. It will be double taxation as those owners are already paying higher community charge. It only affects people in the highest tax band who pay more anyway. It is a populist policy by an inept party leader (much like all the party leaders at the moment) who conveniently omits to comment on the fact that the country is almost bankrupt

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By *lan43sumMan
over a year ago

Leicester

I'm a big society fan. Make it socially unacceptable for folk to duck out of paying income tax. If they do then lets get into some serious naming and shaming.

I've no opinion of the mansion tax except that all new taxes cost money to collect and if we got the evaders and avoiders we'd not need the extra money.

We do need a decent NHS -more than those who can afford private

Just as long as they don't change the vat rate on condoms..... (its 5% isn't it?)

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By (user no longer on site)
over a year ago

[Removed by poster at 24/09/14 13:26:12]

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By (user no longer on site)
over a year ago

Yes I like it and its time the rich cough up some monies. Hope they introduce more taxes to them.

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By (user no longer on site)
over a year ago

Most importantly, those who disagree strongly about it, what are they doing about it?

I think it's a tough tax to regulate, and isn't offsetting in the best way. But I'm not the person who's making the changes. And ultimately, if you're affected by it, then you should do your homework to see the best way to avoid it, there are some ways to do so - according to politicians who oppose the mansion tax.

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By *oodmessMan
over a year ago

yumsville


"Looks like this is still on the political agenda. Good or bad??"

Just watched the daily politics.

It looks like Labour don't bother taking note of international affairs whatsoever.

The notable country here is France.

Comparisons were drawn as; France have had the mansion tax for well over a decade, it has lead to a majority or wealthy land owners leaving France for the UK.

France have increased business taxation. This has lead to a 95% drop of foreign investment over the last 10 years!

The campaign Labour have, for increased minimum wage, was also lambasted, 1. due to the low wage commission, 2. due to business being able to maintain workers in such a short time frame and 3. it was labelled as a populist 'race for voters'.

On the whole - it would seem Labour are vastly out of touch with world economics and are trying their worst best to regain headlines.

A real worry if they get in.

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By (user no longer on site)
over a year ago

I'm not a fan. Seems as pointless and as unfair as the bedroom tax only penalising the wealthy not the poor. The variance in house prices across the country would turn it in to a farce. Plus who would value the house?

The government should concentrate on closing tax avoidence loopholes rather than looking at ever more ridiculous taxes to increase revenue

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By (user no longer on site) OP   
over a year ago


"Yes I like it and its time the rich cough up some monies. Hope they introduce more taxes to them."

Just as an example, someone buying a £2m property today would pay £140,000 in stamp duty. The property would be purchased with a large deposit from savings made out of taxed income, let's say 30% implying income tax paid of c.£500,000. The property will then be subject to higher than average council tax. That is a lot of tax!

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By *anda4001Couple
over a year ago

Norfolk


"Yes I like it and its time the rich cough up some monies. Hope they introduce more taxes to them."

...Politics of envy...

Most of the rich already 'cough up' far more money in tax than you would believe.

Increase the tax on the rich and they either leave or simply stop building.

People who have built and run big money makers should be admired not spat at. Think doctors, Industry and progression.

Or do you think people becoming rich is actually a problem?

I'm sure you'd change your mind if you suddenly found yourself in nice job.

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By (user no longer on site)
over a year ago


"Yes I like it and its time the rich cough up some monies. Hope they introduce more taxes to them.

...Politics of envy...

Most of the rich already 'cough up' far more money in tax than you would believe.

Increase the tax on the rich and they either leave or simply stop building.

People who have built and run big money makers should be admired not spat at. Think doctors, Industry and progression.

Or do you think people becoming rich is actually a problem?

I'm sure you'd change your mind if you suddenly found yourself in nice job.

"
No its not a problem they become rich, and I already got a good job

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By *nnyMan
over a year ago

Glasgow

There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles.

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By (user no longer on site)
over a year ago

Totally counter-productive to tax somebody twice on their earnings...

Where's the incentive for people to run businesses in this country, to generate new money, to feed an export market, and to create new jobs, if their personal return for it is just taxed to death!

Concentrate on chasing the ones who don't comply with the existing tax system first!!!!

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By (user no longer on site)
over a year ago


"do you like my _iew on this topic?

No, I think it is a tax which sets a dangerous precedent, is very focused on the south where property is more highly valued, will be almost impossible to regulate, will impact the market value of houses and which sends a message to those who succeed and want to better themselves that they will be penalised."

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By (user no longer on site) OP   
over a year ago


"There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles."

Then introduce higher stamp duty for corporate and overseas purchasers at the point or purchase and CGT for both at the point of sale. Simples!

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By (user no longer on site)
over a year ago


"do you like my _iew on this topic?

which sends a message to those who succeed and want to better themselves that they will be penalised."

Socialism in a nutshell!

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By (user no longer on site)
over a year ago


"There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles."

Private residences are not purchased with corporate money.

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By (user no longer on site)
over a year ago


"There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles.

Private residences are not purchased with corporate money.

"

So no corporations own residential properties as an investment?

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

Bad

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By (user no longer on site)
over a year ago


"There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles.

Private residences are not purchased with corporate money.

So no corporations own residential properties as an investment?"
they are corporate assets not private residences

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By *nnyMan
over a year ago

Glasgow


"There seems to be a feeling that these large houses are bought from taxed income.

I doubt if that's the case. Many will be corporate purchases designed to avoid paying tax and where any tax is due, it's probably in roubles.

Private residences are not purchased with corporate money.

So no corporations own residential properties as an investment? they are corporate assets not private residences "

Should that matter? If the CEO of xxxxx plc lives in a large house in Belgravia or wherever provided by his employer, one or other of them should pay.

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By (user no longer on site)
over a year ago

Corporation tax

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By (user no longer on site) OP   
over a year ago


"Corporation tax"

Again it is tricky as an arbitrary tax on unrealised value is incredibly difficult to administer.

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By (user no longer on site)
over a year ago

That goes for any unrealised asset, one of the reasons the tax will be unworkable. Property will be written up for insurance and down in value for tax

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By (user no longer on site) OP   
over a year ago


"That goes for any unrealised asset, one of the reasons the tax will be unworkable. Property will be written up for insurance and down in value for tax"

Doesn't seem to stop stupid politicians from advocating it!

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By *nnyMan
over a year ago

Glasgow


"Corporation tax

Again it is tricky as an arbitrary tax on unrealised value is incredibly difficult to administer."

The fact a tax is tricky to assess or administer ought not to be a bar to its implementation.

That said, the tax code could do with a good gralloching.

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By (user no longer on site)
over a year ago

Another ridiculous f'ing tax, let's have a revolution, I'll be Wolfie

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By (user no longer on site) OP   
over a year ago


"Another ridiculous f'ing tax, let's have a revolution, I'll be Wolfie "

I think we are seeing a revolution, but instead of Wolfie we have Farage and the big parties are playing into his hands! Power to the People

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By (user no longer on site)
over a year ago

I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!

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By (user no longer on site) OP   
over a year ago


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!"

Hell of a generalisation to say the majority of the "rich" have dodged tax. And how much is enough though?? As I posted earlier someone buying a £2m house today is likely to have paid a minimum of about £650,000 in tax already with the likelihood of significantly more than average in the future.

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By (user no longer on site)
over a year ago

I could sell my bijou little cottage and buy a five bedroom, two bathroom detached house in Yorkshire for the same money. Just don't fancy the seven hour round trip every day. Which one of those is the mansion?

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By (user no longer on site)
over a year ago


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!

Hell of a generalisation to say the majority of the "rich" have dodged tax. And how much is enough though?? As I posted earlier someone buying a £2m house today is likely to have paid a minimum of about £650,000 in tax already with the likelihood of significantly more than average in the future."

Lol you really think people will have paid over £650k in tax on a £2m property? People with that kind of money have ways of avoiding paying that kind duty!! Not saying everyone does but i can bet you the majority will have!!

Well thats my opinion on it and like I said, I am with the mansion tax!!

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By (user no longer on site) OP   
over a year ago


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!

Hell of a generalisation to say the majority of the "rich" have dodged tax. And how much is enough though?? As I posted earlier someone buying a £2m house today is likely to have paid a minimum of about £650,000 in tax already with the likelihood of significantly more than average in the future.

Lol you really think people will have paid over £650k in tax on a £2m property? People with that kind of money have ways of avoiding paying that kind duty!! Not saying everyone does but i can bet you the majority will have!!

Well thats my opinion on it and like I said, I am with the mansion tax!! "

From earlier, not exact science but a reasonable estimate:

Just as an example, someone buying a £2m property today would pay £140,000 in stamp duty. The property would be purchased with a large deposit from savings made out of taxed income, let's say 30% implying income tax paid of c.£500,000. The property will then be subject to higher than average council tax. That is a lot of tax!

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By (user no longer on site)
over a year ago

Who decides a house is worth £2million? If it isn't sold how do you know?

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By (user no longer on site)
over a year ago


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!

Hell of a generalisation to say the majority of the "rich" have dodged tax. And how much is enough though?? As I posted earlier someone buying a £2m house today is likely to have paid a minimum of about £650,000 in tax already with the likelihood of significantly more than average in the future.

Lol you really think people will have paid over £650k in tax on a £2m property? People with that kind of money have ways of avoiding paying that kind duty!! Not saying everyone does but i can bet you the majority will have!!

Well thats my opinion on it and like I said, I am with the mansion tax!!

From earlier, not exact science but a reasonable estimate:

Just as an example, someone buying a £2m property today would pay £140,000 in stamp duty. The property would be purchased with a large deposit from savings made out of taxed income, let's say 30% implying income tax paid of c.£500,000. The property will then be subject to higher than average council tax. That is a lot of tax!"

The 30% taxed on income .. Thats were The offshore accounts come in handy my friend

Lol..!!

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By (user no longer on site) OP   
over a year ago


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!

Hell of a generalisation to say the majority of the "rich" have dodged tax. And how much is enough though?? As I posted earlier someone buying a £2m house today is likely to have paid a minimum of about £650,000 in tax already with the likelihood of significantly more than average in the future.

Lol you really think people will have paid over £650k in tax on a £2m property? People with that kind of money have ways of avoiding paying that kind duty!! Not saying everyone does but i can bet you the majority will have!!

Well thats my opinion on it and like I said, I am with the mansion tax!!

From earlier, not exact science but a reasonable estimate:

Just as an example, someone buying a £2m property today would pay £140,000 in stamp duty. The property would be purchased with a large deposit from savings made out of taxed income, let's say 30% implying income tax paid of c.£500,000. The property will then be subject to higher than average council tax. That is a lot of tax!

The 30% taxed on income .. Thats were The offshore accounts come in handy my friend

Lol..!!"

If offshore money comes back onshore to buy a property then it gets taxed.

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By (user no longer on site)
over a year ago

Very bad

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By (user no longer on site)
over a year ago


"Looks like this is still on the political agenda. Good or bad??"

Good as long as it gets spent on amenities not benefits.

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By *illwill69uMan
over a year ago

moston


"Looks like this is still on the political agenda. Good or bad??"

Bad idea...

Reason being, it is not an equitable way to rebalance the tax burden, but is rather a tax based in envy. If the Labour Party really want to redress the tax inequities of the past 35 years of tax policy, they should take a lesson from Winston Churchill who said when the country needs the rich should pay their share as he raised the top rate of income tax to 94%.

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By *an_WoodMan
over a year ago

Stafford


"Who decides a house is worth £2million? If it isn't sold how do you know? "

I think the proposed policy is to extend the current valuation on houses held by companies to all private property. Each year eligible properties are valued and then the owner if above the threshold gets a tax bill.

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By *ENGUYMan
over a year ago

Hull

I consider that regardless of which Political Party in power, any notion of a Mansion Tax (or similar scheme), smacks of the Government's departments taking the easiest way out of raising revenue. That is, tax the houseowners!!!

I would go along with this idea, but ONLY AFTER other areas of tax revenue generation have been exhausted to their limits.

For example, the multinational Corporate organisations & companies who rake in £billions from customers, yet hide behind tax loopholes to avoid paying their share of taxes.

Foreign companies too are guilty; it is simple logic that if you wish to set up in this country and using our resources, population, etc, you should pay your way. If you don't abide by our rules, then get out!

But instead, Government depts seem scared of chasing these corporate "Giants", so instead it is considered fair game to chase those who don't have the financial and legal back-up to fight this taxation grab.

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By *andS66Couple
over a year ago

Derby

I know 2 people who get about £500 per week and get away with paying no income tax or national insurance. They've both been doing this for years.

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By *ophieslutTV/TS
over a year ago

Central

Don't know the full proposal but a good principle coupled with stopping tax avoidance which would more than clear the deficit.

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By *oodmessMan
over a year ago

yumsville


"I think its fantastic!! The majority of the rich have dodged tax one way or another on the first place! if you can afford a £2m mansion, first of all well done, secondly, am aure paying back a little extra wouldnt hurt!!

£2m wowzers!!"

just quoting what I wrote earlier. It's reasonably poignant.


"

Just watched the Daily Politics.

It looks like Labour don't bother taking note of international affairs whatsoever.

Comparisons were drawn with France. France have had the mansion tax for well over a decade, it has lead to a majority of land owners leaving France for the UK.

France have increased business taxation. This has lead to a 95% DROP in foreign investment, over the last 10 years!

The campaign Labour have, for increased minimum wage, was also lambasted, 1. due to the low wage commission, 2. due to business being able to maintain workers in such a short time frame and 3. it was labelled as a populist 'race for voters'.

On the whole - it would seem Labour are vastly out of touch with world economics and are trying their worst best to regain headlines. "

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By (user no longer on site)
over a year ago

Tax is a moral obligation enforcing the principles of altruism. It tempers the cancerous greed of man.

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By *at69driveMan
over a year ago

Hertford


"i'm not sure i understand the point you are trying to make about pensioners and their annuities/investments. do you think this would unfair to them or they would benefit. could you clarify?

The people who'll benefit the most from the freedom from annuities changes are the Lamborghini salesmen...lol

Rich "
Hopefully those benefitting from annuity releases will invest sensibly in stocks and shares and not blow it all away.

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By (user no longer on site)
over a year ago

Forgive me if I am wrong, was this part of Ed Milibands speech, who isn't residing at No 10, from what I saw of his speech little has changed in the Labour party. You and I cant borrow money if we dont have the means to pay back the loan.

But the Labour government can borrow far more when they know there isnt a hope in hell.

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By (user no longer on site)
over a year ago


"i'm not sure i understand the point you are trying to make about pensioners and their annuities/investments. do you think this would unfair to them or they would benefit. could you clarify?

The people who'll benefit the most from the freedom from annuities changes are the Lamborghini salesmen...lol

Rich Hopefully those benefitting from annuity releases will invest sensibly in stocks and shares and not blow it all away."
cant remember the last time I saw a septuagenarian driving a Lambo

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By (user no longer on site)
over a year ago


"Tax is a moral obligation enforcing the principles of altruism. It tempers the cancerous greed of man."

Moral? Gotta luuuuuurv Fab!

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By *at69driveMan
over a year ago

Hertford


"Looks like this is still on the political agenda. Good or bad??"
Depends what the cut off level is . Some people are simply too greedy and do not appreciate how lucky they are to have made vast sums from rising house prices. If you can afford the mansion, you can afford the tax. Another option might be to make capital gains tax payable on any house sold within three years of purchase. Would ensure that speculators paid their fair share of tax. In addition interest relief should be withdrawn on all buy to let property. I often wonder why the government don't do this.

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